IonQ, Inc. $IONQ Shares Purchased by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden nearly doubled its IonQ stake in the first quarter, buying 61,656 additional shares for a total holding of 125,556 shares worth about $3.62 million.
• Several other large institutional investors also increased or maintained significant positions in IonQ, and institutions now own 41.42% of the company’s stock.
• Insider selling has continued, with two directors recently selling shares and 13,102 shares sold by insiders over the last 90 days; meanwhile, analysts remain broadly constructive with a Moderate Buy consensus and an average price target of $69.88.

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of IonQ, Inc. (NYSE:IONQ - Free Report) by 96.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 125,556 shares of the company's stock after purchasing an additional 61,656 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in IonQ were worth $3,620,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of IonQ by 18.5% in the fourth quarter. Vanguard Group Inc. now owns 34,774,743 shares of the company's stock valued at $1,560,343,000 after acquiring an additional 5,420,037 shares in the last quarter. State Street Corp boosted its stake in IonQ by 42.3% during the 4th quarter. State Street Corp now owns 8,962,789 shares of the company's stock worth $402,160,000 after purchasing an additional 2,663,230 shares during the last quarter. Geode Capital Management LLC raised its position in shares of IonQ by 21.9% in the fourth quarter. Geode Capital Management LLC now owns 8,074,301 shares of the company's stock valued at $361,624,000 after buying an additional 1,452,463 shares during the last quarter. Norges Bank acquired a new stake in shares of IonQ in the fourth quarter valued at about $199,753,000. Finally, Marex Group plc lifted its stake in shares of IonQ by 419.1% in the fourth quarter. Marex Group plc now owns 4,083,453 shares of the company's stock worth $183,225,000 after buying an additional 3,296,866 shares in the last quarter. 41.42% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at IonQ

In related news, Director Gabrielle B. Toledano sold 2,757 shares of IonQ stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $55.01, for a total value of $151,662.57. Following the completion of the sale, the director owned 11,154 shares in the company, valued at approximately $613,581.54. This trade represents a 19.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathryn K. Chou sold 2,757 shares of the business's stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $55.02, for a total value of $151,690.14. Following the completion of the sale, the director directly owned 62,608 shares in the company, valued at approximately $3,444,692.16. The trade was a 4.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 13,102 shares of company stock valued at $701,489 over the last 90 days. Insiders own 0.55% of the company's stock.

IonQ Stock Down 0.4%

Shares of IonQ stock opened at $48.92 on Tuesday. IonQ, Inc. has a 52 week low of $25.89 and a 52 week high of $84.64. The business's fifty day simple moving average is $55.58 and its 200-day simple moving average is $45.06.

IonQ (NYSE:IONQ - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.34) earnings per share for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.08). IonQ had a negative return on equity of 23.20% and a net margin of 174.88%.The business had revenue of $64.67 million for the quarter, compared to analysts' expectations of $49.75 million. During the same quarter in the prior year, the company posted ($0.14) earnings per share. The business's revenue for the quarter was up 754.7% compared to the same quarter last year. As a group, sell-side analysts expect that IonQ, Inc. will post -2.26 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on IONQ shares. Rosenblatt Securities reaffirmed a "buy" rating and set a $100.00 price objective on shares of IonQ in a research note on Thursday, June 11th. Weiss Ratings raised IonQ from a "sell (d-)" rating to a "sell (d+)" rating in a report on Monday, May 11th. Northland Securities raised their target price on IonQ from $55.00 to $70.00 and gave the stock an "outperform" rating in a research note on Monday, June 22nd. Wedbush reissued an "outperform" rating and set a $60.00 price target on shares of IonQ in a research report on Monday, May 4th. Finally, Morgan Stanley set a $48.50 price objective on shares of IonQ in a report on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.88.

IonQ Company Profile

IonQ, Inc engages in the development of general-purpose quantum computing systems in the United States. It sells access to quantum computers of various qubit capacities. The company makes access to its quantum computers through cloud platforms, such as Amazon Web Services (AWS) Amazon Braket, Microsoft's Azure Quantum, and Google's Cloud Marketplace, as well as through its cloud service. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.

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